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$500m boost from new Viking investors for reported China expansion

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Viking has two ocean-going ships, including Viking Star, in service, with four more on order (Photo: Viking Cruises_
TPG Capital and the Canada Pension Plan Investment Board plan to make a joint $500m investment in the parent company of Viking Cruises for a combined 17% stake, according to Mergers & Acquisitions.

M&A said the funding will help Viking's growth, particularly in the ocean cruise area, and strengthen its balance sheet as the company branches into China starting this year.

Subject to regulatory approval, the deal is expected to close early in the fourth quarter, M&A reports.

Viking is scheduled to add Viking Sky, Viking Sun, Viking Spirit and an unnamed fourth newbuild to its blue water fleet between now and 2020.